Lottery winner
My spouse(f27) and I(m28) have recently discovered we’ve won a life changing lump sum of money playing lottery(+7 figures). We don’t have plans to stop work because we love what we do and no stress, we would like to hear from you on how you would go about this. Our profile: 9k net per month, house on fixed 2 yrs (320k mort), no kids but looking to have soon, debt(6k cc, 20k car fin, 18k stud ln), basically had 40k and a house to our names before this fortune. We were comfortable with our monthly expenses before any of this and basically our cost of living will not change either way. No plans on getting financial advisor as well. My idea was: max out RRSP and TFSA going forward, pay off debts, and make a lump sum mortgage payment every year (10%). Only investing I’ve been exposed to you is dividends which I did with my RRSP and TFSA before purchasing a home. Let me know your thoughts on how I can make that money work for me. Thanks.
Edit: financial advisor is a no no in my book, I’ve heard first hand where things went south and it didn’t turn out too well. Don’t want to go into real estate and be one of those greedy assholes charging a rent that’s absolutely unreasonable for people who were just like me. Please people, I’m not trying to be an asshole bragging or some philanthropist, my plan is to create a proper future with education and generational wealth for my family going forward so they don’t have to struggle like my predecessors. Thanks again
submitted by /u/lok49
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